In the third sub-paragraph below S No. 8, the first sentence is amended to read as under- “In respect of categories 3, 4 & 5 above, if the exporter has not exported for all the 3 preceding years, 25% Bank Guarantee condition shall be imposed on the duty saved amount, provided the CIF value does not exceed 200% of the domestic turnover or 200% of FOB/FOR value of supplies of the preceding licensing year, whichever is higher.
Notification No. 278-Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income Tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), Central Board of Direct Taxes
The principal notification No.12/97-CUSTOMS (N.T.), dated the 2nd April, 1997 was published in the Gazette of India, Extraordinary Part-II, section 3, sub-section (i), vide G.S.R.193 (E), dated the 2nd April, 1997 and lastly amended by Notification No.89/2004-Customs(N.T.), dated the 21st July, 2004 published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (i), vide G.S.R.464 (E) , dated the 21st July, 2004.
In exercise of the powers conferred by clause (b) of Section 2 of the Central Excise Act, 1944 (1 of 1944) read with sub-rule (1) of rule 3 of the Central Excise Rules, 2002, the Central Board of Excise and Customs hereby makes the following further amendments in the notification of the Ministry of Finance (Department of Revenue) No.38/2001-Central Excise (N.T.) dated the 26th June, 2001
The renewal deadline for the Status Holder Certificate has been extended to November 30, 2004, with benefits available until December 31, 2004.
The matter was deliberated upon and accordingly it is clarified that wherever import of penicillin and its salts( ITC(HS) Code 29411010) is allowed under advance licence scheme, export obligation period of such licences shall be restricted to 3 months from the date of clearance of import of first consignment. No further export obligation period extension shall be allowed for such advance licences. An endorsement in the advance licence shall be made by the licensing authority to this effect.
Notification No. 277-Income Tax In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), read with sub-clause (vi) of clause (2) of section 17 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962
The notified organisation shall furnish the Annual Return of its scientific research activities to the Secretary, Department of Scientific & Industrial Research, ‘Technology Bhawan’, New Mehrauli Road, New Delhi-110016 for every financial year on or before 31st May of each year
Individual debt investment limits earlier allocated for 100% FIIs/Sub-Accounts will be realigned based on the remaining available limit of US$ 1550 million out of the overall cap of US $1.75 billion and the revised limits will be advised to the 100% debt FIIs/Sub-Accounts separately.
Notification No. 274-Income Tax It is notified for general information that the enterprise/undertaking, listed at para (3) below has been approved by the Central Government for the purpose of section 10(23G) of the Income-tax Act, 1961, read with rule 2E of the Income tax Rules, 1962 with effect from the Asstt. Year 2002-03.
